Popular

August 25, 2008

Dynegy Statement on Passing of Barry J. Galt

by Sam Savage

Dynegy Inc. (NYSE:DYN) today issued the following statement on the death of Barry J. Galt on August 22, 2008. Galt, the former Chairman and Chief Executive Officer of Seagull Energy Corp., served as a member of Dynegy's Board of Directors from September 2002 until May 2006.

"Barry joined Dynegy's Board of Directors at a time when the company was at a difficult crossroads in terms of its financial condition and business direction," said Bruce A. Williamson, Chairman, President and Chief Executive Officer of Dynegy Inc. "His decision to join our board during such a time of great uncertainty and add his capable leadership and depth of experience in the energy business and on corporate matters aided immeasurably to our self-restructuring, and helped chart a successful direction for Dynegy. Our company, our employees and our investors owe a debt of gratitude for his many contributions. Our thoughts and prayers are with Barry's family."

Through its subsidiaries, Dynegy Inc. produces and sells electric energy, capacity and ancillary services in key U.S. markets. The power generation portfolio consists of more than 18,000 megawatts of baseload, intermediate and peaking power plants fueled by a mix of natural gas, coal and fuel oil. DYNC